NEW YORK (Standard&Poor's) Aug. 17, 2012--Standard&Poor's Ratings Services has assigned its 'AA' rating to Orange County, Fla.'s series 2012C sales tax revenue refunding bonds. At the same time, Standard&Poor's affirmed its 'AA' rating on the county's existing parity sales tax debt. The outlook is stable. "The rating reflects our view of the county's sizable and deep underlying economy, very strong historical coverage of maximum annual debt service (MADS) that we expect will continue, and adequate bond provisions," said Standard&Poor's credit analyst Le Quach. The county will use bond proceeds to refund its series 2002A sales tax revenue bonds. Orange County is in central Florida, with an estimated population of approximately 1.1 million.
